On May 20, 2021 Numab Therapeutics AG, a clinical stage biopharmaceutical company developing next-generation multispecific antibody-based immunotherapies for cancer and inflammation, reported the closing of a CHF 100 million (approximately USD 110 million) Series C financing (Press release, Numab, MAY 20, 2021, View Source [SID1234580359]). The financing was co-led by new investors Novo Holdings and HBM Partners, with participation from additional new investors Forbion via its Forbion Growth Opportunities Fund, Cormorant Asset Management, BVF Partners L.P., RTW Investments L.P., funds and accounts under the management of BlackRock, Octagon Capital Advisors, and existing investors. Concurrent with the financing, Nanna Lüneborg from Novo Ventures, Matthias Fehr from HBM Partners, and Carlo Incerti from Forbion have been appointed to Numab’s Board of Directors.

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Proceeds will support acceleration and expansion of the clinical development of Numab’s lead program NM21-1480 into multiple cancer indications, and the advancement of the company’s pipeline of multi-specific antibodies in oncology and inflammation, into clinical trials.

"We are thrilled to be supported by such a strong group of investors who share our vision for the company’s future," said David Urech, Ph.D., Founder and Chief Executive Officer of Numab Therapeutics. "Combining PD-L1 blockade with tumor localized 4-1BB co-stimulation in a single molecule emerges as an attractive next-generation therapeutic strategy in solid tumors, and Numab’s lead compound NM21-1480 has best-in-class potential. The financing will help us to maximize the value of this asset by significantly expanding the clinical development program and accelerating toward phase 2 proof-of-concept."

"We are impressed by the biological insights that went into the engineering of NM21-1480 and by the innovative pipeline that Numab has established. We believe that Numab’s Lambda-capTM and MATCHTM technologies can provide treatment options with favorable benefit-to-risk profiles," said Matthias Fehr, Head Private Equity at HBM Partners.

"Backing companies built on clearly differentiated science in areas of major unmet medical need is at the heart of Novo Holdings’ investment strategy. We are thus thrilled to co-lead Numab’s Series C financing to support the company at a pivotal stage in growth," commented Nanna Lüneborg, Partner at Novo Ventures.

On May 20, 2021 VBL Therapeutics (Nasdaq: VBLT) reported that a poster providing an update on the OVAL Phase 3 registration enabling clinical trial of VB-111 in ovarian cancer will be presented at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting (Press release, VBL Therapeutics, MAY 20, 2021, View Source [SID1234580375]).

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"We are encouraged by the continued progress of the OVAL clinical trial, which remains on track," said Dror Harats, M.D., CEO of VBL Therapeutics. "The poster will provide an important update on the trial."

Title: Clinical Trial in Progress: Pivotal Study of VB-111 Combined with Paclitaxel vs. Paclitaxel for Treatment of Platinum-Resistant Ovarian Cancer (OVAL, VB-111-701/GOG-3018)
Authors: Arend, R.C., et al.
Session: Gynecologic Cancer
Session type: Poster Session
Abstract: 5599

About the OVAL study (NCT03398655)
OVAL is an international Phase 3 randomized pivotal registration enabling clinical trial that compares a combination of VB-111 and paclitaxel to placebo plus paclitaxel, in patients with platinum resistant ovarian cancer. The study is planned to enroll approximately 400 patients. OVAL is conducted in collaboration with the GOG Foundation, Inc., an independent international non-profit organization with the purpose of promoting excellence in the field of gynecologic malignancies.

About VB-111 (ofranergene obadenovec)
VB-111 is an anti-cancer gene-therapy agent that is being developed to treat a wide range of solid tumors. VB-111 is a unique biologic agent that uses a dual mechanism to target solid tumors. Its mechanism combines blockade of tumor vasculature with an anti-tumor immune response. VB-111 is administered as an IV infusion once every 6-8 weeks. It has been observed to be well-tolerated in >300 cancer patients and demonstrated activity signals in an "all comers" Phase 1 trial as well as in three tumor-specific Phase 2 studies. VB-111 has received an Orphan Designation for the treatment of ovarian cancer from the European Commission. VB-111 has also received orphan drug designation in both the US and Europe, and fast track designation in the US, for prolongation of survival in patients with recurrent glioblastoma. VB-111 demonstrated proof-of-concept and survival benefit in Phase 2 clinical trials in radioiodine-refractory thyroid cancer and recurrent platinum-resistant ovarian cancer (NCT01711970).

On May 20, 2021 ITM AG, a leading radiopharmaceutical company, reported that it will host a virtual symposium titled, "New Approaches for Targeted Radionuclide Therapy in Precision Oncology" as an ancillary event in parallel to the 2021 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting (Press release, ITM Isotopen Technologien Munchen, MAY 20, 2021, View Source [SID1234580392]). The symposium will feature renowned key opinion leaders in the field and will be held on Friday, June 4th, 2021 from 9.30 am – 11.00 am ET / 3.30 pm – 5.00 pm CEST.

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The interactive live-session will explore the latest science and clinical practices driving Targeted Radionuclide Therapy to the forefront of the precision oncology field. Participating experts will lead critical examinations and discussions surrounding topics including the current and future potential of Targeted Radionuclide Therapy in cancer therapy and diagnostics, its application in hard-to-treat indications such as gastroenteropancreatic-neuroendocrine tumors (GEP-NETs) and novel developments in the field, including ITM’s proprietary precision oncology pipeline.

The full scientific program and registration form are available on ITM’s website.

Scientific Program and Participating Experts:

Welcome & introduction
Richard L Wahl, MD, Mallinckrodt Institute of Radiology, Washington University School of Medicine, St. Louis, MO, U.S.
The potential for state-of-the-art Targeted Radionuclide Therapy & diagnostics and future applications
Richard L Wahl, MD, Mallinckrodt Institute of Radiology, Washington University School of Medicine, St. Louis, MO, U.S. (15 min)
The clinical management of NETs – a multi-disciplinary team approach
Jennifer A Chan, MD, Dana-Farber Cancer Institute and Harvard Medical School, Boston, MA, U.S. (15 min)
Leveraging the latest developments in somatostatin receptor-positive tumors to generate novel therapeutic opportunities
Thorvardur R Halfdanarson, MD, Mayo Clinic, Rochester, MN, U.S. (15 min)
ITM’s precision oncology pipeline
Mona M Wahba, MD, MSM, ITM, Munich, Germany (15 min)
Discussion & closing remarks
Speakers will be available for a Q&A session at the end of the event.

The symposium will be available via a live webcast. A replay of the event will also be available on ITM’s website.

The symposium is not sponsored, endorsed, or accredited by ASCO (Free ASCO Whitepaper), CancerLinQ, or Conquer Cancer the ASCO (Free ASCO Whitepaper) Foundation.

On May 20, 2021 RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, reported that it will report its first quarter 2021 financial results and operational highlights on Thursday, May 27, 2021 (Press release, RedHill Biopharma, MAY 20, 2021, View Source [SID1234580408]).

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The Company will host a webcast on Thursday, May 27, 2021, at 8:30 a.m. EDT, during which it will present key highlights for the first quarter of 2021.

The webcast including slides will be broadcast live on the Company’s website, View Source, and will be available for replay for 30 days.

On May 20, 2021 Tyligand Bioscience, which is committed to the research and development of new small molecule anti-tumor drugs, reported the completion of the A round of financing of about US$20 million jointly participated by Hongli Venture Capital, Yijing Capital, and China Medical System (Press release, Tyligand Bioscience, MAY 20, 2021, View Source [SID1234644993]). This round of financing will be used to promote the transformation of the company’s pipeline to the clinical stage, including the phase II clinical trials of onapristone in China, the preclinical research and IND declaration of 3 innovative molecules, and several First-in-class research projects compound optimization. BFC Capital acted as the exclusive financial advisor to Tyrex in this transaction.

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Dr. Zhang Yantao, chairman of Tyligand Bioscience, said: I am very grateful to new and old investors for their recognition and support of Tyligand’s original creativity. We should live up to high expectations, strive to efficiently promote the progress of the pipeline, develop high-quality first-class new drugs that can stand the test of time, and provide patients and medical staff with more accessible and reliable treatment options.

Dr. Xu Tianhong, managing partner of Holly Ventures, said: Holly Ventures is committed to discovering and investing in original innovations in the field of biomedicine at home and abroad, as well as first-class entrepreneurial teams of scientists with a solid style and deep foundation. Tyligand’s unique First-in-class and Best-in-class R&D pipeline is the best proof of its team’s creativity and execution ability in drug molecule design. We look forward to working closely with the company in the field of life sciences to provide safe and effective treatment options for cancer patients.

Yijing Capital said: Tyligand team has become one of the most innovative companies in the field of small molecules with its global vision in risk management and control, decision-making power in target selection, and efficient capital utilization. Yijing Capital is very optimistic about the company’s R&D platform built around the selective regulation of molecular phosphorylation levels, and is also very honored to support the advancement of Tyrena’s pipeline and the realization of clinical value. It looks forward to the smooth progress of the company’s products under research and the early benefit of patients around the world.

Lin Gang, Chairman of CMS, said: Tyligand has a strong team, and its research pipeline is unique and highly competitive, and it has also attracted first-class collaborators. It is a great pleasure to join hands with investment partners to jointly support original innovations that the market desperately needs.